22nd Jan 2025 12:00
(Alliance News) - LBG Media PLC on Wednesday reported increased annual profit and revenue, driven by a strong performance in the US market.
LBG Media is a Manchester, England-based digital media and youth content publisher that owns LADbible and SPORTbible.
Pretax profit for the twelve months ended September 30 was GBP14.5 million, up 32% from GBP11.0 million in financial 2023.
Revenue rose by 22% to GBP86.2 million from GBP70.9 million a year before.
LBG Media attributed this to its performance in the US market, noting key client wins with Netflix Inc, L'Oreal Ltd and White Castle Ltd.
LBG Media added that it has had a "positive" first quarter of the 2025 financial year, achieving double-digit growth on-year.
Looking ahead, the company said it was confident in its 2025 performance and has a "clear line of sight" to GBP200 million revenue.
Chief Executive Officer Solly Solomou said:"2024 was a transformational year for LBG Media."
He continued: "The strength of our model, our progress in the U.S., and our fantastic team, explain why our results are ahead of calendar year expectations and give us confidence of further progress in 2025."
LBG Media shares were down 0.2% at 124.78 pence each in London on Wednesday morning.
By Lydia Doye, Alliance News reporter
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